FN Options History — April 2014

In April 2014, FN traded between $20.27 and $22.35. ATM implied volatility averaged 40.6%, placing in the 22.1% IV rank vs the trailing year. The 30-day expected move averaged 12.4%. IV traded above realized volatility by 9.0% (HV 20d: 31.6%). Max pain ranged from $17.50 to $20.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.46.

Notable Days

2014-04-22: Highest Volume — 53 contracts
2014-04-10: Largest IV spike — 78.4% change
2014-04-28: Highest IV Rank — 39.7%
2014-04-28: Largest Expected Move — 15.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$21.02	$20.27	$22.35	$20.49	$21.60
Max Pain	$19.40	$17.50	$20.00	$17.50	$20.00
ATM IV	40.6%	23.9%	54.4%	30.3%	50.0%
Expected Move	12.4%	8.4%	15.6%	8.7%	14.3%
HV 20d	31.6%	29.3%	33.5%	30.8%	32.8%
HV 60d	33.9%	32.9%	34.5%	33.9%	34.5%
IV Rank	22.1%	0.8%	39.7%	9.0%	34.0%
IV Percentile	57.0%	0.4%	96.8%	10.7%	92.1%
Term Structure	-6.0%	-15.5%	14.8%	10.5%	-13.1%
VWIV	44.0%	31.4%	50.7%	31.4%	50.1%
Skew 25d	5.4%	0.4%	11.8%	6.0%	4.8%
Skew 10d	9.6%	0.7%	27.7%	10.1%	13.9%
Call IV 25d	41.5%	23.1%	52.0%	25.9%	51.9%
Put IV 25d	46.9%	30.7%	57.7%	31.8%	56.6%
Bid-Ask Spread %	77.15	63.74	111.72	111.72	74.94
Gamma HHI	0.40	0.32	0.58	0.32	0.34
Net GEX	22.6K	15.6K	29.1K	29.1K	20.4K
Net DEX	-1.5M	-2.2M	-574.5K	-2.0M	-675.9K
Net VEX	-2.1K	-2.5K	-1.9K	-2.5K	-1.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.46	0.00	4.00	0.00	0.00
Total Volume	21.19	0	53	4	10
Total OI	1,334.143	716	1,752	1,752	782

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2014-04-01	$20.49	$17.50	30.3%	8.7%	30.8%	9.0%	0.0%	6.0%	10.5%	29.1K	-2.0M	-2.5K	0.00	111.72	4	0	1,452	300
2014-04-02	$21.12	$17.50	29.2%	8.4%	32.5%	7.5%	0.0%	0.4%	14.8%	27.8K	-2.2M	-2.3K	0.00	108.79	0	30	1,370	274
2014-04-03	$21.02	$17.50	32.1%	9.2%	32.3%	11.2%	31.4%	9.1%	9.9%	25.9K	-2.1M	-2.3K	0.00	110.46	50	0	1,370	274
2014-04-04	$20.63	$17.50	30.9%	12.0%	33.2%	9.7%	39.9%	4.6%	-5.8%	27.5K	-2.0M	-2.4K	0.00	70.68	19	0	1,395	274
2014-04-07	$20.31	$17.50	29.8%	12.3%	33.5%	8.3%	43.0%	5.4%	-6.5%	25.9K	-2.0M	-2.3K	3.00	68.09	10	30	1,409	274
2014-04-08	$20.48	$20.00	31.1%	12.3%	31.1%	9.9%	42.9%	5.0%	-6.9%	22.6K	-2.0M	-2.3K	0.00	69.44	4	0	1,405	304
2014-04-09	$21.13	$20.00	23.9%	12.6%	32.1%	0.8%	40.2%	4.8%	-7.8%	25.4K	-2.2M	-2.3K	0.00	63.74	1	0	1,407	304
2014-04-10	$20.56	$20.00	42.6%	12.2%	32.0%	24.7%	42.5%	5.1%	-6.6%	23.3K	-2.0M	-2.3K	0.00	67.66	42	0	1,382	304
2014-04-11	$20.27	$20.00	42.5%	12.2%	31.6%	24.5%	41.9%	3.9%	-6.5%	21.5K	-1.8M	-2.2K	0.00	72.84	12	0	1,369	304
2014-04-14	$20.28	$20.00	43.8%	12.6%	31.5%	26.2%	0.0%	5.5%	-8.0%	24.8K	-1.9M	-2.1K	0.00	71.70	0	0	1,379	304
2014-04-15	$20.44	$20.00	43.5%	12.5%	31.5%	25.8%	0.0%	6.0%	-7.7%	25.8K	-1.9M	-2.0K	0.91	75.72	11	10	1,379	304
2014-04-16	$20.72	$20.00	44.0%	12.6%	31.5%	26.4%	0.0%	4.5%	-7.5%	20.8K	-2.1M	-2.0K	0.00	73.51	10	0	1,389	298
2014-04-17	$21.11	$20.00	45.2%	13.0%	30.9%	27.9%	45.4%	5.9%	-10.2%	20.2K	-2.2M	-2.0K	0.00	70.43	11	0	1,394	298
2014-04-21	$21.28	$20.00	41.7%	12.0%	30.1%	23.5%	41.5%	7.1%	-5.5%	15.6K	-620.4K	-2.0K	0.00	70.81	23	0	539	177
2014-04-22	$21.92	$20.00	45.3%	13.0%	31.3%	28.1%	45.4%	4.9%	-9.5%	18.3K	-737.6K	-1.9K	0.02	69.76	52	1	562	177
2014-04-23	$21.94	$20.00	45.8%	13.1%	31.1%	28.7%	45.7%	5.5%	-9.8%	20.5K	-775.3K	-2.0K	0.24	67.79	21	5	594	178
2014-04-24	$22.35	$20.00	46.6%	13.4%	30.4%	29.8%	47.0%	4.8%	-10.9%	21.1K	-791.1K	-1.9K	4.00	71.22	4	16	574	183
2014-04-25	$21.78	$20.00	46.2%	13.2%	29.3%	29.2%	46.5%	3.1%	-9.4%	19.8K	-686.5K	-2.0K	0.00	70.98	0	9	574	199
2014-04-28	$21.03	$20.00	54.4%	15.6%	32.2%	39.7%	50.7%	11.8%	-15.5%	18.4K	-583.3K	-2.0K	0.12	86.41	34	4	574	198
2014-04-29	$20.95	$20.00	53.5%	15.3%	31.5%	38.5%	50.6%	5.7%	-14.2%	19.0K	-574.5K	-2.0K	0.00	73.39	22	0	588	202
2014-04-30	$21.60	$20.00	50.0%	14.3%	32.8%	34.0%	50.1%	4.8%	-13.1%	20.4K	-675.9K	-1.9K	0.00	74.94	10	0	580	202